02/12/2013 - Fossil, Inc. and the Tory Burch Coompany Sign Global Licensing Agreemment
RICHARDSON, Texas, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Fossil, Inc. (Nasdaq:FOSL) announced today that it has entered into a global licensing agreement with the Tory Burch Company. Fossil and Tory Burch will collaborate on the design, development and distribution of timepieces for the Tory Burch brand. This partnership will combine Fossil's innovative approach to timepiece design and its distribution expertise with the elegance, classic design and lifestyle that Tory Burch embodies.
Tory Burch, CEO of the Tory Burch Company, says, "I am thrilled to partner with Fossil, a leader in the watch industry that is aligned with our vision and business strategy. Expanding into timepieces will perfectly complement our accessories collection, an integral part of our brand DNA."
Kosta Kartsotis, Fossil CEO, added, "We are very pleased to be partnering with Tory Burch to create a distinctive watch business for this exceptional brand. This will enable us to leverage our strengths in design and worldwide distribution and enhance our position as the leader in the global watch market."
The Tory Burch timepiece collection's global launch is scheduled for late 2014.
Certain statements contained herein that are not historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: changes in economic trends and financial performance, changes in consumer demands, tastes and fashion trends, lower levels of consumer spending resulting from a general economic downturn, shifts in market demand resulting in inventory risks, changes in foreign currency exchange rates, and the outcome of current and possible future litigation, as well as the risks and uncertainties set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and its Quarterly Reports on Form 10‑Q filed with the Securities and Exchange Commission (the "SEC").
Fossil is a global design, marketing and distribution company that specializes in consumer Fashion accessories. The Company's principal offerings include an extensive line of men's and Women's watches and jewelry sold under proprietary and licensed brands, handbags, leather goods, sunglasses, soft accessories and clothing. The Company's products are sold to department stores, specialty retail stores in the U.S. and in approximately 120 countries worldwide. The Company also distributes its products in over 400 Company-owned and operated retail stores and through international e-commerce websites and the Company's U.S. e-commerce website at www.fossil.com, where certain product, press release and SEC filing information concerning the Company are also available.
The Fossil, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3296
About Tory Burch
Tory Burch, a privately held company, is an American sportswear brand with a classic sensibility combined with a global and eclectic aesthetic. Launched in February 2004, Tory Burch is carried in 83 freestanding stores across the U.S., Europe, Middle East, Latin America and Asia, over 1,000 department and specialty stores worldwide and at www.toryburch.com.